Issue 2007-01: January 2, 2007
This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.
eBusiness and Technology
E-Mail Management: Gain Control and Ensure Compliance: Mobius
Tuesday January 9, 2007 - 2:00 - 3:00 pm ET. Mobius Webinar - Register now.
Compliance/legal officers, business management/IT professionals, and records managers take note! Learn how new laws affect your e-mail retention policies.
SAS ranked first for its core risk management technology in Chartis RiskTech 100 report.
CARY, NC (Dec. 18, 2006) - Yet another analyst report has confirmed SAS' leadership in the enterprise risk management space. SAS, the leader in business intelligence, was ranked first in the "core risk technology" category and second overall in Chartis Research's RiskTech 100 report. The report, an overall market assessment of the top risk technology vendors, examined each vendor's functionality, core technology, organizational strength, customer satisfaction and market presence.
kasina Announces Its First Ranking of the "Top 10 Web Sites for Financial Intermediaries".
NEW YORK, December 4, 2006 - kasina, a leading consultant to the asset management industry, has named its "Top 10 Web Sites for Financial Intermediaries," for 2006, ranking Franklin Templeton Investments as the overall number one performer. Franklin Templeton was followed by American Funds and MFS Investment Management.
IDC Releases Top 10 Predictions for Worldwide System Infrastructure Software, 2007.
FRAMINGHAM, Mass., December 13, 2006 – IDC today released its worldwide system infrastructure software predictions for 2007. IDC defines system infrastructure software as software that controls the operation and management of computing infrastructure resources, and is a key element of any IT infrastructure deployment. Operating systems, enterprise virtualization software, and enterprise systems management software all are in system infrastructure software.
Royal & SunAlliance makes it easier for brokers to place new business.
December 1, 2006 - Royal & SunAlliance has launched automatic data mapping to brokers using the Keal sigXP system, allowing those brokers to spend less time processing policies and more time with their customers. This is the latest in a series of Royal & SunAlliance initiatives being developed to make it easier for brokers to process personal auto and property policies
Business of Insurance
Keystone Agricultural Producers Joins The Co-operators Membership.
GUELPH, ON, Dec. 14, 2006 - The Co-operators Group Ltd. has expanded its membership, welcoming Keystone Agricultural Producers (KAP) of Manitoba. On December 1, The Co-operators board of directors approved KAP's application, expanding to 34 the number of Canadian organizations that are member-owners of the group of companies.
RBC RRSP Poll Shows Retirement Planning Can Pay Off - Ipsos-Reid.
December 18, 2006, Toronto, ON - According to RBC's 16th Annual RRSP Survey, home ownership (61%) and retirement savings (56%) are the top two financial priorities for Canadians. Other financial goals such as reducing debt (53%), trying to keep their head above water (53%) and saving for a rainy day (45%) rate further below on their financial priorities list.
Pethealth Announces Certain Milestones in its Non-Insurance Businesses.
Oakville , ON - September 12, 2006 . Pethealth Inc., is pleased to announce that it reached certain milestones in the development of its non-insurance businesses during the month of August. The Company sold 51,800 microchips during the month, surpassing the 50,000 microchip plateau for the first time.
Allstate Insurance Company and MADD Canada team up again to remind Canadians to drive sober through the holiday season.
MARKHAM, ON, Dec. 19 - Allstate Insurance Company of Canada is once again serving as the title sponsor for MADD Canada's annual holiday season public awareness campaign for safe and sober travel -- the 2006 Project Red Ribbon. This year marks the 19th consecutive year that Allstate has served as title sponsor.
The Annual Expedia Winter Survey, by Ipsos-Reid.
November 28, 2006 Toronto, ON - In light of new United States travel regulations coming into effect in early January, 2007, that will require those entering the United States to present a valid passport to gain entry into the country, a new Ipsos Reid/expedia.ca survey reveals that a substantial portion of Canadians have not yet prepared for these changes when it comes to their holiday vacation planning.
Marketing and the Market Place
Canada Heats Up! Finally, breaking the ice with Internet shoppers to the north: eMarketer.
DECEMBER 21, 2006 - "Canadian Internet users are a bit of a conundrum," says Jeffrey Grau, eMarketer senior analyst and the author the new Canada B2C E-Commerce report. "They are world leaders in broadband Internet uptake, time spent online and electronic banking and bill paying. They are also equal to or ahead of their US counterparts in their propensity to purchase retail services online such as travel and event tickets."
Manulife Investor Sentiment Index near record level.
WATERLOO, ON, Dec. 20, 2006 - Canadians' interest in investments made its largest leap in more than six years, according to a national poll earlier this month for Manulife Financial, Canada's leading insurance and wealth management company. The 32nd quarterly Manulife Investor Sentiment Index jumped 11 points to +34, the largest single quarterly swing since the surveys began in 1999 -- and just one point shy of an all-time high of +35 in mid-2000.
LIMRA International and LOMA Announce Plan to Discuss Merger.
Atlanta, Georgia, November 28, 2006 - The heads of LIMRA International and LOMA announced today that they have agreed to begin discussions that could lead to a merger of the two insurance and financial industry research and service organizations.
Policy and Product Management
Magic Software Enters US$2.5 Million Agreement with Farm Mutual Reinsurance Plan.
Laguna Hills, Calif; December 21, 2006 -- Magic Software Enterprises, a leading provider of state-of-the-art business integration and development technology, today announced an agreement to sell more than US$2.5 million in eDeveloper and iBOLT services to Farm Mutual Reinsurance Plan, Inc. (FMRP) of Cambridge, Ontario, Canada, for the implementation phase of a custom reinsurance system that includes integration of Oracle J.D. Edwards World software on the IBM System i (formerly iSeries) platform. The system will provide business process innovations and enhancements for FMRP's members.
MIB Solutions' Claims Activity Index Touted at International Claim Association's Annual Meeting.
WESTWOOD, Mass. (November 28, 2006) - MIB Solutions, Inc. presented a seminar on its Claims Activity Index (CAI), the first industry-wide database to help prevent life insurance claims fraud, to the delegates of the 97th annual meeting of the International Claim Association in Seattle last month.
Preliminary Swiss Re sigma estimates of catastrophe losses in 2006: benign year for property insurers.
20 Dec 2006 CET -- According to preliminary estimates, natural and man-made catastrophes triggered total economic losses of around USD 40 billion, and cost property insurers worldwide USD 15 billion in 2006. Earthquakes, cold spells, windstorms and also shipping disasters claimed numerous victims. In all, an estimated 30 000 people lost their lives in catastrophes.
Reference and Statistics
U.S. Individual Annuity Sales on Track for New Record: LIMRA.
Windsor, CT, November 28, 2006 - Individual annuity sales continued to grow in the third quarter at $58.7 billion, a 9 percent increase over the same period in 2005, according to LIMRA International. Sales for the first three quarters of 2006 were up 9 percent over the same period in 2005, reaching $177.9 billion.
I have only broken my one and only New Year's Resolution - to be better organized - a little bit so far. Hope you are doing better with yours. On a personal note, our college student son returned to Ottawa yesterday and our working son heads back to Kitchener today. It has been a good twelve days, but one little part of me looks forward to being empty-nesters again, maybe just because I don't have to worry about making dinner this evening!
I, along with the other staff at Insurance-Canada.ca, wish you and yours the best in 2007.